Gov. Jindal: Obama Should Take Cue From Louisiana on Job Creation

This is a rush transcript from "Hannity," October 21, 2011. This copy may not be in its final form and may be updated.

SEAN HANNITY, HOST: As we continue on the road to 2012, the momentum remains on the side of the Republican Party. And tomorrow in the great state of Louisiana, voters will head to the polls, and all indications are that they will overwhelmingly re-elect my next guest. That's Louisiana Governor Bobby Jindal, who by the way has endorsed Rick Perry in the race to the White House. Governor, how are you?

GOV. BOBBY JINDAL , R-LA.: I'm doing great, Sean. Thank you for having me tonight.

HANNITY: Well, I was just talking to you off-air, and if I really wanted to be a smart-alec -- because I asked you what was the employment rate. I would say, Governor, your unemployment rate is 6.9 percent. But you told me that. And I wasn't sure exactly where it is. Six point nine percent. The country is 9.1 percent. How many months of consecutive job growth?

JINDAL: Twelve months in a row of private-sector job growth, we're decreasing number of government jobs. Every month I have been governor, our employment rate has been below the southern and national averages. We've added 45,000 jobs in economic developments and $10 billion in private capital investments, three years in a row, Southern Business Developments has named Louisiana, the best state in the south for economic development. Site selection polling says we are the most improved state in the entire country. We are showing in Louisiana that fiscally conservative principles work, Sean. We've cut government spending 26 percent, $9 billion. We've got fewer state government employees than we have had in over 20 years, the best credit rating we've had in over 25 years. Unlike President Obama, we understand, you cut taxes, cut government spending, that's how you grow private-sector jobs.

HANNITY: Yes. And you are doing all of this -- North Dakota has a lower unemployment rate than you with 3.5 percent, but they recently had a massive, huge, oil discovery that they are moving forward with. Now, if they allow oil drilling again back in the Gulf, you lost a lot of jobs with that, but still, you know, you are over, you know, about two-and-a-half points below the national average with unemployment. So, seems to me that if you get your oil industry back, so too a lot of jobs will come back?

JINDAL: Absolutely. Sean, if the president would just get out of the way. You look in the Gulf, 11 rigs went overseas, of those 10 still not here. We are not even close to being where we were before the moratorium. And they don't think, until 2012, we'll get back to where we were pre- moratorium, 2013 where we would have been otherwise. It is not just the moratorium though. You look at companies like New Corp (ph) investing over $3 billion in my state, 1,200 permanent jobs, $75,000 a year. They delayed over two years, thanks to the fear of "cap and trade." In part, you've got another companies, Sonntag (ph), Japanese PVC Company that want to invest $120 million in our expansion in our state in Louisiana, they are now thinking about putting that money overseas. Again, thanks to Obama's EPA and Obama's regulations.

So, our economy is doing better than the South, better than the country, so we just need this president to stop raising taxes, stop putting regulations in the way of job creators.

HANNITY: All right. This is what I want to understand because you've basically have gone in the opposite direction of what we are doing nationally. And I was surprised, there was what, $9 billion or 26 percent of the state budget you were able to cut in the first term, you also gave the largest tax cut to the state of Louisiana. I think it was $1.1 billion over five years. You cut a lot of loopholes, you accelerated the elimination of other taxes, eliminated, you know, capital gains tax on the sale of businesses, et cetera. How did you do all of that and the results are good? And why don't we do this nationally? It seems like you are doing a good job. Things are better in Louisiana than nationwide. How did you cut spending, cut taxes and end up with a better situation?

JINDAL: Well, Sean, it's basic economics. You're exactly right. This is just common sense, it's what you have been talking about on your show. We sold up a thousand state cars, privatized group home services that cost $600 a day for the state to do it. Less than $200 a day for the private sector to do it. We've consolidated and gotten rid of wasteful government spending. We've got more work to do. Here's the most telling number. After 25 years of us exporting our people, for four years in a row, more people moved in the Louisiana rather than leave our state. People are voting with their feet. Harry Reid got it exactly wrong. He went to the Senate floor this past week and said, the problem was with public-sector jobs, he said he wasn't worried about private-sector jobs. He said he was worried about expanding public-sector jobs.

That's what is wrong with Washington, D.C. They are trying to grow government spending. Borrow money we can't pay back. Raise taxes. We are doing the opposite in Louisiana. And you're exactly right. It's working, our best credit ratings in 25 years. Look, we have had to make tough choices, but that's what voters and the taxpayers want from their leaders. That's why I think this is going to be a one-term president.

HANNITY: I agree with you. And Steve Jobs apparently doesn't, Walter Isaacson's new book. Let me ask you, you supported early on, Governor Perry of Texas. He came out gangbusters. Struggled a little bit in some of these debates. Do you think he can recover?

JINDAL: Absolutely. Look, this is going to be a long-term fight for the nomination. That's a good thing, by the way, Sean. For too long, we have pre-ordained our nominee in the Republican Party.

I think a heated and an open contest of ideas is a good thing for the nominee, whoever that nominee is. I am supporting Rick because of his economic policies and his track record in Texas, created nearly half the jobs created in our country.

Whoever our nominee is will have to go up against the Obama machine. He will have a billion dollars and a lot of the mainstream media on their side. We need a tough nominee who has been tested and who's been vetted. So I think this process is good for us.

Governor Perry has cut taxes $14 billion, 65 times in the state of Texas while President Obama has cost our country 2 million jobs and under Governor Perry, they have created a million jobs in Texas. He has done tort reform. He understands you don't tax, borrow, spend your way into prosperity.

HANNITY: Let me ask you. You got this election, looks like you are going to win this race tomorrow night and be a two-term governor. A lot of people mention your name as a possible vice-presidential candidate.

If one of these guys, when they get the nomination, if they were to come to you next summer and say, Governor Jindal, you did such a good job in Louisiana, I want to put you on the ticket and run with me nationally. How do you say no to that?

JINDAL: No. Look, my focus is here in Louisiana. We have made a great start, but we got more work to do. I am supporting whoever is on the ticket. The reason I am supporting Rick Perry, I don't want a job for me. I want a job for millions of Americans.

I don't want to be vice president. I want to continue to be governor of this great state. That's why we're running hard in this election. We have made great progress in this state, but we have more taxes to cut, more government spending to cut, more private-sector jobs to create.

We've got more work to do especially in K-12 education, Sean. We need to give parents more choices so their kids are not trapped in failing schools. We have started that here. Got a great scholarship program in New Orleans, but we have more work to do in Louisiana.

HANNITY: All right, Governor, we'll be watching the results tomorrow night. Appreciate, as always, you being with us. Thank you.

JINDAL: Thank you. Thanks, Sean.

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